Why It's Hard to Become a Serial Entrepreneur in Russia

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Launching and running several businesses at the same time is a challenge with an asterisk. Maria Bar-Biryukova, founder and CEO of the Sellty platform, deputy CEO and partner of the Korus Consulting Group, explained what prevents one from becoming a serial entrepreneur in Russia.

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Content:

The modest size of the venture capital market
Tight financing conditions
All-consuming corporations
Lack of knowledge
Inability to see promising niches
What conclusion can be drawn?


The modest size of the venture capital market
Even in the most successful year of 2021, the Russian malta whatsapp phone number venture market was 10 times smaller than the Indian or Israeli ones, and more than 100 times smaller than the American or British ones. And since 2022, it has been rapidly falling , practically approaching zero.

The total amount of funding for Russian startups in 2023 fell by 80% - from $422 million to $84 million compared to 2022, according to a study by Venture Eurasia.

Analysts from the Moscow Innovation Agency came to approximately the same conclusions . According to their data, in 2023, the volume of venture investments in Russia decreased by 91%. Investors concluded 181 deals for a total of $118.2 million with an average check of $0.65 million.

In the first four months of 2024, the Venture Guide service recorded 37 deals worth $7.7 million. In monetary terms, this is 68% less than in the same period last year.

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What to do . This is an objective reality that needs to be taken into account. Despite the small market volumes, transactions are made on it. This means there is a chance to find an interested investor. If, of course, you really make a cool product and you have a cool team.